Franklin Templeton ready to put Property Fund onto Stock Exchange in September

Mark Mobius, executive chairman of Templeton Asset Management and one of the most influential people on the global financial market, says the listing of the Property Fund may occur in September, if Franklin Templeton takes over its role as manager by July. He provided more details for the first time on the company’s plans for the biggest business of the moment in Romania. Mark Mobius, also known as a guru of the financial markets because of his over thirty-year experience in the field, is one of the Franklin Templeton professionals who will be involved in the management of assets of the Property Fund worth around 3 billion euros. Having won the mandate as a manager of the Fund on June 9th 2009, British-held Franklin Templeton has yet to take over the reins, having only recently signed the management contract, at the end of February. At present, Templeton is waiting for the Government and the Fund’s shareholders to confirm the management mandate.

“We are hoping to see the Fund on the Bucharest Stock Exchange in 2010. If we start actual management of the Fund on July 1st, listing could occur in September,” said Mark Mobius at the opening of the Stock Exchange trading session. He is the executive chairman of Temple Asset Management – the division specialised in investments on emerging markets of American group Franklin Templeton.